Pyramid Analytics, a company focusing on artificial intelligence business analysis, recently received a US$50 million investment from BlackRock, the world's largest asset management company. This injection of funds will further promote its position in the booming big data and business analysis market. . The editor of Downcodes will explain to you the meaning behind this transaction and the future development prospects of Pyramid Analytics. The global big data and business analysis market continues to expand, providing huge development opportunities for artificial intelligence-driven business analysis companies.
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According to forecasts from market research company Allied Market Research, the global big data and business analytics market will reach US$665.7 billion by 2033, with a valuation of US$225.3 billion in 2023. In such an expanding market, startups providing AI services are becoming a bright spot for investors.
Pyramid's analytics platform combines machine learning and artificial intelligence technologies to streamline processes and data analysis for customers. Currently, the company’s clients include well-known companies such as the U.S. Food and Drug Administration (FDA), Hallmark, Deloitte and Volkswagen. Pyramid is headquartered in Amsterdam with offices in London, New York and Tel Aviv. Despite the funding, Pyramid did not disclose its equity valuation.
Looking back on its financing history, Pyramid completed a Series E round of financing led by HIG Growth Partners in May 2022, raising US$120 million, bringing its total financing to more than US$200 million. At the time, business website TechCrunch estimated its value at nearly $1 billion.
John Doyle, managing director of BlackRock, said of the investment that Pyramid is at the intersection of data analytics and AI capabilities, both areas enjoying strong long-term development trends. As AI technology continues to advance, Pyramid is expected to occupy a place in the future market.
This financing not only injects funds into Pyramid Analytics, but more importantly, enhances its influence in the industry, heralding the accelerated development of artificial intelligence applications in the field of business analysis. In the future, how Pyramid Analytics will use this capital to further expand its business deserves our continued attention. The editor of Downcodes will continue to bring you more technology information.